The Japanese city of Fukuoka is aiming toward the future of Web3 in a partnership with Astar Japan Labs. Fukuoka is the country’s second-largest port city and has officially been designated as a National Special Strategic Zone.
The Astar Japan Labs partnership will allow both entities to work together on new use cases for Web3 technologies. Fukuoka joins more than 45 companies working with Astar, including Microsoft Japan and Amazon Japan.
The city wants to attract global, competitive businesses to the area. Representatives from Astar will regularly visit the city to provide education and new use cases both locally and throughout the country in collaboration with local governments.
This new development comes after a flurry of changes in Japan regarding the crypto and Web3 scene. The country has been touted as one of the toughest in terms of crypto regulations, which have the potential to deter its allure. On the other hand, it also recently loosened a set of regulations for listing new currencies on authorized exchanges.
On Oct. 3, the Japanese prime minister said in a speech that the government has plans for major investment in Web3 and metaverse initiatives. The government has recently utilized nonfungible tokens to reward local authorities.
